Honestly being a blood sucker of the poor is disgraceful. Lead poisoning is a serious issue in poor communities and contributes to the criminal element holding them back. For a few more hundred dollars this place could be very livable why property owners cut corners just to be fined or sighted I will never understand. If you dont want to do the job right dont invest there let the people in that community who actually care do the job the right way.
12:40. Hahaha I love it. I watch a lot of CBT Nuggets vids too. "I hope this has been informative for you and I thank you for watching!" lmao I love the vids man. Please make more.
"No electricity in the bathroom". Here in the UK it is illegal to have any electrical outlets in a bathroom. I guess it has something to do with the different voltages used in both countries. 240v here.
Yes you are correct. The voltages in England are much higher and therefore have a higher risk of death. Also I believe there are some major differences in how the electricity is grounded as well
@@DevinMorenoInvesting Thankyou. Yes. There have been a few cases of people receiving a fatal shock when using an extension lead to plug an appliance in, in a bathroom from another room. I personally wouldn't risk it.
Im loving the content!!Can you do a video on getting set up for section 8. The home requirements/codes, How to get tenants, how to receive applications and payments, what to charge etc. Thanks Devin😊
Hi Devin, I am starting a similar journey moving from Silicon Valley to Muskegon Michigan and sharing that journey on Facebook in bringing in these old houses in blighted areas back and transforming the neighborhoods into safer places to live
The West Side Values dont seem to recover anytime soon, what you think? East side has more opportunities imho in certain parts. What neighborhoods do u buy now adays?
there are few neighborhoods over east that are blighted as over west. Maybe central east baltimore, but east is better short term. I think west and its closer proximity to DC and the subway lines has been potential over 30 years. Also, the price point is lower.
This is great! Regarding the lead paint - if it was present in the trim, were they able to rent without doing a full remediation, or did they opt out of a lead free certificate?
Good information Devon. So even though there were some issues (chipping lead paint, exposed outlets, washer/ dryer hook up) this property still passed rental inspection?
The owner didnt even know Rental inspections were a thing until I told her. She was actually renting it illegally. Fortunately I managed to teach her how to get all these issues resolved for her in a quick period of time and get the rental inspections done just a little after the Tenant moved in
There isn't one. At the time of filming this, I was so new to investing that it wasn't something I immediately noticed. But unfortunately many houses like this don't have a hood and just allow the smoke to build up in the kitchen. Today I would never manage a house like this if the owner didn't add safety features like that.
I’m from Baltimore and where I come from this is a beautiful home and that chip paint a ticket lol all the kids got lead and hundred thousand to 800,000 lawsuit payouts. In real life . We have to get it other ways 🤧😑🤷🏾♀️🙏🏽
Just to slightly correct you there- Yes Freddie Gray and his family received a pay out- but because they chose to have a lump sum it was nt millions it was a lot less.i can find the exact figure if you need. Its mentioned in the book - We own this City
Id never buy an investment property in a place with such low quality of people. Please be careful if you are still doing this 3 real estate investors gunned down in the last year or so outside of there properties.
No worries, you're doing good job. I learned how to be a landlord thru trial and error, and I'm still learning. I'm still learning how to be a real estate investor.
This really depends on the neighborhood and the tenant. The Section 8 program will give an amount of rent equal to thier own comps. Also each tenant is rated differently to know how much they will pay. This is all between the tenant and the program. Normally its about 80/20 but I do have one tenant who pays nothing.
LMAO your talking safety protection on an outlet in a Baltimore Ghetto. You really don't know where you are. Your rental is about to be used as a trap house.
The safety protection on the outlet was listed as required to be fixed by the rental inspector, so unfortunately we had to address it. As for the trap house issue, we haven't experienced that at all. We properly screened the tenant we put in there and she is a responsible paying tenant. I can agree that a risk of investing in Baltimore is the drugs but there are hundreds of investors whom have many houses in the city without that issue since many people just want a place to live
The Baltimore Investors agreed. Not all the folks are trapping. I’m looking for buy and hold investments in Baltimore. Do you have any quick guidance on areas to check out? I’m m looking for stuff that has a 7-12% CoC return. Is this still doable in Baltimore?
Just because people live in the ghetto doesn’t mean they should not have up to code housing. Some people work and still can’t afford to pay $1400 for an apartment. 1400 might be their total take-home pay. Think before you write
Absolutely! I started with $500. Granted I had a job at the time of starting where I made $80K a year, but that is hardly riches. $60K is plenty to start with as long as you learn the principals of private lending and leverage.
@@DevinMorenoInvesting 🔶 80k is more than about 95% of Americans make. 🔷 Section 8 is destroying neighborhoods in Baltimore. 🔶 ABSOLUTELY GUARANTEED it's not in YOUR neighborhood.
@@opalfishsparklequasar8663 section 8 doesn't destroy neighborhoods lazy uncaring landlords do. If you have problem tenant and don't want to evict all you have to do is non renew them with notice and most leave without issue as long as they have time to prepare.
@@gpcollier just the fact that there is a problem tenant proves my point. People that own the houses, who have skin in the game, typically aren't a problem. Employed. Married. One father. People find themselves in chaotic situations for all sorts of reasons, but others don't have to deal with it. The projects were basically ALL Section 8, & they had to be RAZED.
@@opalfishsparklequasar8663 dude you have no idea. The projects were supposed to be low rise single entry townhouse or garden style housing for whites coming back from war. Once they were structured for minorities they were made into highrise developments where the maintenance and upkeep was solely funded by rent collected. You all are so ignorant to systematic racism you don't even know these are the fruits of the plans of white people. You blame poor minorities for falling for the plans of your fore fathers.
Yeah I would never rent a place like this again. It was awful. We moved the tenant out within 3 months and I quit managing it from that point on. Now I have a minimum standard for renovation quality before I will take on the project
Honestly being a blood sucker of the poor is disgraceful. Lead poisoning is a serious issue in poor communities and contributes to the criminal element holding them back. For a few more hundred dollars this place could be very livable why property owners cut corners just to be fined or sighted I will never understand. If you dont want to do the job right dont invest there let the people in that community who actually care do the job the right way.
12:40. Hahaha I love it. I watch a lot of CBT Nuggets vids too. "I hope this has been informative for you and I thank you for watching!" lmao I love the vids man. Please make more.
2 words.
Lead paint
"No electricity in the bathroom".
Here in the UK it is illegal to have any electrical outlets in a bathroom.
I guess it has something to do with the different voltages used in both countries.
240v here.
Yes you are correct. The voltages in England are much higher and therefore have a higher risk of death. Also I believe there are some major differences in how the electricity is grounded as well
@@DevinMorenoInvesting Thankyou. Yes. There have been a few cases of people receiving a fatal shock when using an extension lead to plug an appliance in, in a bathroom from another room. I personally wouldn't risk it.
Im loving the content!!Can you do a video on getting set up for section 8. The home requirements/codes, How to get tenants, how to receive applications and payments, what to charge etc. Thanks Devin😊
Hi Devin, I am starting a similar journey moving from Silicon Valley to Muskegon Michigan and sharing that journey on Facebook in bringing in these old houses in blighted areas back and transforming the neighborhoods into safer places to live
I'm from Muskegon and I live in Baltimore now. Very odd to see this here
@@rogerchampion1952 Hi Roger...Tell me more I an curious
What do you want to know?
I'm from west Baltimore and they did a good job 👏
Can you please a section 8 tenant in a home where the house behind it (visible from the back door) is boarded up?
Depends on the inspector. Normally Section 8 doesn't like board ups on your same block but behind it is usually an exception
The West Side Values dont seem to recover anytime soon, what you think? East side has more opportunities imho in certain parts. What neighborhoods do u buy now adays?
there are few neighborhoods over east that are blighted as over west. Maybe central east baltimore, but east is better short term. I think west and its closer proximity to DC and the subway lines has been potential over 30 years. Also, the price point is lower.
Oh, hard to flip switch on garbage disposal when there is none?
This is great! Regarding the lead paint - if it was present in the trim, were they able to rent without doing a full remediation, or did they opt out of a lead free certificate?
none of the vidios are telling me the one thing iam trying to find out.how much is rent in maryland.that aii i wont to know.
Seems like you want my video on how much my rental properties make. ruclips.net/video/9hKFtelxKvw/видео.html
1,000 - $5000
The worst areas really be trying to charge 1500$ 😐🥴
Tooo expensive!
🎵🎶If you walk through the garden, watch yo' back 🎶 But I beg your pardon, on the straight and narrow track🎶🎵
Good information Devon. So even though there were some issues (chipping lead paint, exposed outlets, washer/ dryer hook up) this property still passed rental inspection?
Yeah, I'm curious as well. I'm thinking that many units in parts of Baltimore probably don't meet all the code.
The owner didnt even know Rental inspections were a thing until I told her. She was actually renting it illegally. Fortunately I managed to teach her how to get all these issues resolved for her in a quick period of time and get the rental inspections done just a little after the Tenant moved in
Where is the hood over the stove?
There isn't one. At the time of filming this, I was so new to investing that it wasn't something I immediately noticed. But unfortunately many houses like this don't have a hood and just allow the smoke to build up in the kitchen. Today I would never manage a house like this if the owner didn't add safety features like that.
Great video. Thank you!!
My pleasure!
*I think the female riding with him has a .45 ACP tucked in her jeans.*
Surely , she a give u a facelift with four fifth
I didnt know there were multiple baltimore cities
I found you😂😂😂
Good job. Show us more
The last room was a kitchen
Do you have any houses available in east Baltimore? in search of a 2br. in east baltimore
I don't have any at the moment. It's pretty rare when my houses go vacant
I’m from Baltimore and where I come from this is a beautiful home and that chip paint a ticket lol all the kids got lead and hundred thousand to 800,000 lawsuit payouts. In real life . We have to get it other ways 🤧😑🤷🏾♀️🙏🏽
2 of my sons friends get lead paint checks. Its a thing in Baltimore.
Freddie gray had lead paint, died before he got his million dollar lead paint settlement
Just to slightly correct you there- Yes Freddie Gray and his family received a pay out- but because they chose to have a lump sum it was nt millions it was a lot less.i can find the exact figure if you need.
Its mentioned in the book - We own this City
I almost died from it. Thankfully my sister had my blood type and a blood transfusion saved me
...u know every time u visit ur property round that time u r risking ur life. What car do u drive? LOL Stay safe!
For the bathroom
Id never buy an investment property in a place with such low quality of people. Please be careful if you are still doing this 3 real estate investors gunned down in the last year or so outside of there properties.
The kitchen and living room looks too upgraded for a section 8 apartment in a rough neighborhood in Baltimore.
I was extremely new at real estate when I made this video. So some of my thoughts may have not been the most accurate in it
No worries, you're doing good job. I learned how to be a landlord thru trial and error, and I'm still learning. I'm still learning how to be a real estate investor.
Ngl this is luxury compared to the houses I lived in as a kid (lifetime Baltimore resident)
At the time my perspective was a bit different on a house like this. Baltimore was a bit of a culture shock when I made this video
How much does section 8 cover? And how much does the tenant cover? What would be the purchase price of an un renovated row home?
This really depends on the neighborhood and the tenant. The Section 8 program will give an amount of rent equal to thier own comps. Also each tenant is rated differently to know how much they will pay. This is all between the tenant and the program. Normally its about 80/20 but I do have one tenant who pays nothing.
Surge protector extension cords function similar to GFCI switch.
👍
GARBAGE DISPOSALS HAVE A RESET SWITCH It. Flip the witch it saves you a lot of money.
LMAO your talking safety protection on an outlet in a Baltimore Ghetto. You really don't know where you are. Your rental is about to be used as a trap house.
The safety protection on the outlet was listed as required to be fixed by the rental inspector, so unfortunately we had to address it. As for the trap house issue, we haven't experienced that at all. We properly screened the tenant we put in there and she is a responsible paying tenant. I can agree that a risk of investing in Baltimore is the drugs but there are hundreds of investors whom have many houses in the city without that issue since many people just want a place to live
The Baltimore Investors agreed. Not all the folks are trapping. I’m looking for buy and hold investments in Baltimore. Do you have any quick guidance on areas to check out? I’m m looking for stuff that has a 7-12% CoC return. Is this still doable in Baltimore?
Just because people live in the ghetto doesn’t mean they should not have up to code housing. Some people work and still can’t afford to pay $1400 for an apartment. 1400 might be their total take-home pay. Think before you write
Jasmyn Renee more than likely a SWS on here running his mouth.
oh really ?... hmmm interesting
I only have 60k, could i start with this cash?
Absolutely! I started with $500. Granted I had a job at the time of starting where I made $80K a year, but that is hardly riches. $60K is plenty to start with as long as you learn the principals of private lending and leverage.
@@DevinMorenoInvesting
🔶 80k is more than about 95% of Americans make.
🔷 Section 8 is destroying neighborhoods in Baltimore.
🔶 ABSOLUTELY GUARANTEED it's not in YOUR neighborhood.
@@opalfishsparklequasar8663 section 8 doesn't destroy neighborhoods lazy uncaring landlords do. If you have problem tenant and don't want to evict all you have to do is non renew them with notice and most leave without issue as long as they have time to prepare.
@@gpcollier just the fact that there is a problem tenant proves my point.
People that own the houses, who have skin in the game, typically aren't a problem.
Employed.
Married.
One father.
People find themselves in chaotic situations for all sorts of reasons,
but others don't have to deal with it.
The projects were basically ALL Section 8,
& they had to be RAZED.
@@opalfishsparklequasar8663 dude you have no idea. The projects were supposed to be low rise single entry townhouse or garden style housing for whites coming back from war. Once they were structured for minorities they were made into highrise developments where the maintenance and upkeep was solely funded by rent collected. You all are so ignorant to systematic racism you don't even know these are the fruits of the plans of white people. You blame poor minorities for falling for the plans of your fore fathers.
The craftsmanship is horrendous. I don’t want to be that GC. 😔
Haha yeah the owner decided to do the renovations herself to save money. Certainly not the best idea in this case.
Someone is renting that place??!!!
Very unfortunate.
Yeah I would never rent a place like this again. It was awful. We moved the tenant out within 3 months and I quit managing it from that point on. Now I have a minimum standard for renovation quality before I will take on the project
Low end??? I'd live there sh!t